There is a strong tie-in between consumer confidence and the housing market. Homeowners derive a large measure of their sense of financial worth from the value of the property they live in. From this standpoint, Canadians have a huge advantage over our American cousins at this stage of the economic recovery. Due to the sub-prime mortgage collapse and a tidal wave of foreclosures that extended into the prime category as well, U.S. home prices plummeted from early 2006 into 2009. Nationally, the decline was 33% according to S&P/Case-Shiller
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